Property Chain – What to do when get you stuck in it?

In today’s market, selling your home can be a long and painful process. Sometimes a house can get stuck in a chain and sit for 6, 12 or up to 18 months before it is sold. This is a very long time to be waiting to sell your house. However, there is nothing worse than thinking you have everything organized for the sale and end up in a broken property chain. A broken property chain is where a property has an offer and is about to be sold, but something happens which causes the sale to fall through. Anything could happen to stop the process and you may never see it coming!

The property chain can be broken for many reasons and the seller may never know why the buyer dropped the offer. An offer for a house is not a legally binding transaction and therefore could be retracted at any time. Because an offer does not set the sale of your house in stone, the property chain is subject to be broken and the sale of your house may fall through. The buyer may recant his or her offer for many reasons such as redundancy, illness, change of mind, or more likely because he or she was not approved for a mortgage.

Maggie was living in a home that she inherited from her mother in Liverpool. She got a job in Manchester and wanted to move closer to her new job. Maggie immediately put the house on the market as she needed the money for the move and did not wish to have the responsibility of paying a mortgage for a house in which was no longer going to live in anymore. The house was on the market for 5 months before it received an offer. It took almost a month to get all of the paper work in order. Then, 2 days before she moved into her new home and the day before the house sale was finalized, the property chain was broken due to the buyer being unable to get a mortgage. Maggie was left with an unsold house.

Maggie was in a tight spot because of this broken property chain. She had an apartment ready in Manchester, a house to sell in Liverpool and did not have the money she needed to settle into her new location. Luckily a friend told her about us and we were able to get her home sold and give her the cash she needed to settle properly in Manchester.

How can we help you get out from a property chain?

We offer an easy online form that will allow us to assess and value your home at no cost to you. With the information we get from this form, we can get an offer to you, which you are under no obligation to take, within 48 hours!

Remember, we can help even if there is little to no equity in your house. We can get cash in your hands in 28 days and eliminate the stress of selling your home. There is no need to worry about a broken property chain when we are involved.

We strive to treat our clients with integrity and to get their houses sold when they want them sold for the best possible price. Fill out our no-obligation form NOW using this link, or give us a call for a friendly chat.